Take a piece of construction paper and cut out a circle about 8 inches in diameter. You can use a ruler to be exact, or you can eyeball it. You can use a plate or other circular item as your template if you like. If you would like a larger pouch, use a larger circle template; smaller, use a smaller circle template.
The circular piece of construction paper you just made is going to help you cut out the suede piece. Place the construction paper circle over your piece of suede. Trace it with a permanent marker and use your scissors cut it out!
Again using the permanent marker, mark a series of dots about a 1/2 an inch from the edge of the suede circle. Each dot should be about an inch apart. You want an even number of dots.
Use your hole punch to punch out each of the dots on the suede circle. Don't be discouraged if the hole punch doesn't entirely drop out - as long as there is a cut in the fabric big enough to slide your thong through you are fine.
Time to create the pouch! Using your long shoe string (in the photo I use a leather thong, but I learned that a shoelace works better with little hands), weave the cord in and out of each of the holes on the suede circle. Use the "over, under" method. (If you're not using a shoelace, cut your string off the spool about 36 inches long.) If you've woven correctly, you should end up with both ends of the lace on the outside edge of the pouch.
Once you have laced the holes, pull the strings tight so that the pouch forms! Adjust the strings as necessary so that the pieces hanging at the ends are relatively the same length.
Take your bead and string both ends of the shoe lace through the hole of the bead. Push the bead all the way down, closing the pouch. (You want the bead to fit snugly. If it's too loose it won't seal the pouch, and you know what that means... bye-bye goodies!)
Finally, take the tips of the two strings and create a knot. You now have a perfectly secure leather neck pouch to keep your goodies!